The Internet couples many computers together and provides computer users with a variety of capabilities. For example, using the Internet, computer users may view text and graphics, make purchases, send and receive electronic mail, search for information, and participate in online auctions for goods and services.
An online auction may allow an auctioneer to present an item for bid to an open or closed group of parties. The parties may view information regarding the item and place a bid electronically. Online auctions may be used for selling and buying an increasingly diverse set of goods and services. As a result, a variety of market environments may exist in which certain feedback rules, that is, rules for managing the information provided to the bidders about the status of the auction, may prevent an auction from achieving its full potential in reducing purchase cost for a buyer or increasing revenue for a seller.